Cranfield University has approval from the US Department of Education for the origination and disbursal of William D. Ford Federal Direct Loans (Direct Loans).

School Code: G10493 / 01049300

Applying for a Direct Loan/Federal Student Aid

  1. To be considered for federal student aid (FSA), you must first complete the Free Application for Federal Student Aid (FAFSA) form.
  2. Private loans are a helpful alternative if you're unable to borrow Direct Loans. You'll need good credit and a co-signer in order to apply. More information on Private Loans can be found on the funding finder. 
  3. We recommend you apply for your loan before you apply for a visa, as you may need to provide your loan confirmation as evidence of funding.
  4. Once you have read the details below, go to our How to apply web page.

Eligibility

Am I eligible?

To be eligible for a Direct Loan to study with us, you must:

  • be a US citizen
  • be physically present at Cranfield University for your studies
  • be continuously enrolled at least half-time at the Cranfield University
  • make satisfactory academic progress during your course: add link to Satisfactory academic progress policy

Are all courses eligible for Direct Loans?

The following types of courses are not eligible for Direct Loans:

  • courses which are less than half-time
  • courses which are not degree-bearing
  • courses in Nursing or Midwifery
  • online courses
  • distance-learning courses

Types of Loan

Direct/Title IV loans

The Federal Student Aid website has detailed information on borrowing under the Direct Loans programme.

Students enrolling on a postgraduate course which is eligible for Direct Loans can be considered for:

  1. An Unsubsidised Loan up to a maximum of $20,500 per academic year, subject to previous borrowing levels and limits. These are not based on financial need and their interest rate is reviewed annually.
  2. A Graduate PLUS Loan to cover costs of attendance above $20,500. This is subject to a credit check.

Private loans

If Direct Loans are not available, or don't fully cover your costs of attendance, you may be able to apply for a private loan.

How much can I borrow?

Regardless of the type of loan(s) you choose, you can borrow up to your calculated cost of attendance. We calculate this based on your estimated living, study and travel expenses for the academic year, plus one year's tuition fees.

These figures are provided as an indication of the maximum amount available. Your cost of attendance will vary based on a number of factors:

  • the tuition fees for your course
  • your choice of accommodation
  • the total length of your course
  • previous loans
  • whether you are in receipt of any other financial aid, e.g. sponsorship, scholarships or bursaries.

How we calculate your cost of attendance

Your cost of attendance is calculated to cover your costs, including:

  • Tuition Fees
  • Accommodation
  • Food
  • Miscellaneous & Books and Supplies
  • Loan Fees
  • Transportation – an average for return flights to the UK

Notes

  1. Course related costs can vary and include such items as text books, photocopying, equipment and field trips. Your academic department may be able to provide a more accurate estimate relating to your specific course. If you have a placement as part of your course, costs may differ substantially, particularly due to travel costs.
  2. For the purposes of the cost of attendance, we have included an average cost however the actual cost of your accommodation will depend on your choice, the availability of rooms and whether you choose to live on campus or in private accommodation. These differences can be reflected in the amount you choose to borrow.
  3. Your cost of attendance includes the actual tuition fees for your programme of study for the relevant year.
  4. The cost of attendance is based on Full Time study. If you plan to study part time, please email the student funding team.
  5. Students may apply for an adjustment based on special or unusual circumstances. The University may make adjustments that are appropriate to each student’s situation, with adequate supporting documentation. Determinations are made on a case-by-case basis and in accordance with the University’s Professional Judgement Policy. Students should email the student funding team.
  6. We determine a fixed exchange rate once a year and apply it to all cost of attendance calculations. We don't revise our calculations throughout the academic year to account for small fluctuations in the commercial exchange rate.

Current students

You will need to make a separate application for each academic year that you need a loan. Applications for each academic year usually open in May.

If you wish to apply for a loan for the current academic year please contact the student funding team.

FAQs

When should I complete my application/documentation?

Applications for FAFSAs are open so you can complete that now.

We will start to process US loan applications for the 2026/27 academic year from June / July 2026. Once we have reviewed your application, we will email you regarding the next steps.

Remember to keep us informed of any changes to your plans. 

Have you received my FAFSA?

Check to make sure you have added Cranfield University to your FAFSA application. If you have, it will take at least three working days before we are notified. We will begin processing applications for the 2026/27 academic year in June / July 2026, so you may not hear from us until then. Once we have reviewed your application, we will email you regarding the next steps.

When will you approve my loan?

Once we have received all the information and documentation we need. For the new academic year, we can start originating loans three months prior to the start of your course.

Do I need to borrow the full cost of attendance?

No - you can borrow any amount up to and including the maximum amount available to you. If you borrow less than the amount you owe the University in fees/tuition then you will be personally responsible for paying any balance owing.

When will I get my first payment?

After the start of your course. Your loan won’t be released before you’ve arrived for the start of the academic year. The first personal disbursement is usually up to three weeks after the start of the course so you must make sure you have sufficient funds for the weeks between your arrival and receiving your personal disbursement.

We will deduct any costs for your tuition fees and accommodation due within the disbursement period, and pass any remaining on to you.

Do I need a UK bank account?

A UK bank account is preferable as it reduces the number of times your money will be subject to exchange rates.

How do I pay my fees/university accommodation? Should I set up a Direct Debit?

No, do not set up a direct debit if you are receiving US Federal Aid. After term starts, students receive an invoice for tuition/accommodation fees, this is for information only. If you receive US Financial Aid, you will have an alternative payment schedule in line with the US Loan disbursement dates.

What happens if I don't borrow enough to fully cover my tuition/accommodation fees?

If you don’t borrow enough to cover the whole of your tuition fees (and university accommodation fees, if applicable), you are responsible for paying the balance. Exchange rates fluctuate throughout the year so only after the final disbursement has been paid will we know exactly how much the balance will be. 

Can I use VA/GI Bill benefits and what is the process?

Cranfield University does not participate in the VA Loans Programme.

Can I adjust my loan mid year?

Yes - you can decrease your loans or cancel a disbursement. If you haven’t borrowed the maximum amount available to you, you can increase your loan up to the maximum amount as well. You will need to email the student funding team to request this.

Can I study or work outside the UK?

Any periods of study or work placements outside the UK can adversely affect your loan eligibility for the time you are away, even if you have academic approval. You must contact us if this applies to you.

Can I complete any of my studies in the USA?

Periods of study in the USA during your course may adversely affect your loan eligibility for your entire course, even if you have academic approval. You must contact us if you intend to return to the USA for any period of study.

Can I use US Federal Aid for Online or distance learning courses?

No, unfortunately students cannot use US Federal Aid for courses held online or via distance learning. 

Can I defer payment of my existing loans?

If you apply for a Direct Loan to fund your studies then repayments on existing loans will be deferred automatically while you are at Cranfield University. This is done after the start of the academic year in early November.

If you're studying at Cranfield but not applying for a new loan you can still defer your payments - email the student funding team and ask us to report your enrolment. 

How to apply

There are some key differences to the process of applying for Direct Loans to fund your study at a Foreign Institution compared to applying for funding at an American institution.

Outlined below is the process for applying for Direct Loans for study at Cranfield University. If your course is longer than one year, you will need to follow this process for every year of your course.

FAFSA applications for 2025/26 are now open. You should complete your FAFSA as early as possible, as this will determine your loan eligibility.

Complete your Free Application for Federal Student Aid (FAFSA) form.

To access your online FAFSA form, please visit the Federal Student Aid webpage. 

Please ensure you record Cranfield University as your place of study and include our School Code which is G10493 or 01049300.

Once you have completed your FAFSA application, we will receive a copy of your Institutional Student Information Record (ISIR).

For additional information and help with your FAFSA application, please visit the Student Aid website (studentaid.ed.gov).

What happens when you receive my ISIR?

We will begin to process ISIRs for the new academic year from July. 

From July, we will contact you to confirm that we have received your ISIR and are in the process of calculating your cost of attendance. When we contact you, we will also ask if you have any other additional funding from scholarships, other financial aid or sponsorships, as well as requesting any other relevant supporting documents. 

Once your loan package has been calculated based on your personal circumstances, we will notify you of the maximum amount you are eligible to apply for. You will need to confirm how much you would like to borrow before we can process your loan.

We may also ask you to provide the documentation outlined below (depending on the type and amount of loan you wish to borrow).

Documentation

Additional Funding

Additional funding from scholarships, bursaries, other financial aid or sponsorships (including from Cranfield University) impact your loan calculations.

Any scholarship or funding from another provider will impact the amount of loan available to borrow. We will ask you to provide evidence of the amount and source for all sources of additional funding. 

This does not relate to funding you are receiving from your family or your own personal earnings

Sign your Master Promissory Note(s)

The Master Promissory Note (MPN) is a legal document in which you commit to repay your loan(s) and any accrued interest and fees.

All Direct Loan applicants must sign a MPN with the US Department of Education for the type of loan(s) they want to use. You will need to:

Complete Loan Entrance Counselling online

It's a legal requirement to complete entrance counselling if you take out a Direct Loan. This is a process to make sure you understand the terms and conditions of your loan. You can do this on the US Department of Education website.

Complete a credit check for your Graduate PLUS Loan

If you want to take out a Graduate PLUS Loan you must complete a credit check via the US Department of Education. Credit checks are valid for 180 days.

How long will it take?

We process ISIRs for the new academic year from June / July, and start to originate loans at this stage.

We aim to process your Direct Loan application within four weeks of receipt of all the relevant documentation, but this can take longer in busy periods.

Once the US Department of Education has approved your loan(s), we will email your Direct Loan confirmation letter to you.